By: Diane Benjamin
Followup to this story: https://blnnews.com/2018/10/20/the-corn-crib-fleece/
I discovered more information about the Cornbelters. They have two liens placed by the Illinois Department of Employment Security, meaning they didn’t pay the payroll taxes due. From 2016-2017 they owe $24,173.64 including interest, from 2015 they owe $2,054.94 plus interest of $621.87.
Source: 2016 and 2017
Also, the mortgage on the stadium is no longer held by Busey Bank, it was refinanced with the Small Business Administration in 2011. The original amount of the loan was $2,000,000. SBA loan
I FOIA’d Heartland Community College for payments made to them by the Team, below is what I received. Note the property taxes.
The PIN number provided by HCC was 14-17-400-004.
On the County website, that PIN hasn’t been used for tax purposes since 2013. Tax for 2013 was ZERO.
From the information on the Recorder’s site, construction loans were never $11,000,000. Busey did do a loan modification in 2011 reducing it from $2,112,500 to $1,984,000. Loan Modification
More information will probably be available when the sale is finalized and new documents are recorded.